Summary
•Today, TK Development exercised an option to buy the 10 % stake in Euro Mall
Holding A/S held by the Investment Fund for Central and Eastern Europe.
Accordingly, TK Development is now the sole owner of the Central European
activities. 
•The price for the shares amounts to DKK 96 million.
•TK Development has chosen to exercise the option to buy the shares in light of
its continued positive view of the market potential, underpinned by the
portfolio of projects expected to contribute with respectable earnings during
the next few years. 
•The Group continues to expect profits to end at about DKK 300 million after
tax for the 2008/09 financial year. 

Central Europe expected to continue to contribute with respectable earnings

Since the summer of 2007, TK Development's activities in Central Europe
(Poland, the Czech Republic and Slovakia) have been owned on a 90/10 basis with
the Investment Fund for Central and Eastern Europe through Euro Mall Holding
A/S. Today, TK Development exercised an option to buy the remaining interest in
Euro Mall Holding A/S from the Investment Fund for Central and Eastern Europe.
Thus, TK Development is now the sole owner of the Group's Central European
activities. 

TK Development has chosen to exercise its option to buy because the Group
continues to take a positive view of the market potential in Central Europe. In
addition, Euro Mall Holding has a promising portfolio of projects expected to
contribute with respectable earnings over the next few years. 

The price for the shares amounts to DKK 96 million, which reflects the book
value. 

The Group maintains its profit estimate for 2008/09

The effect of the purchase was contained in the Group's previous profit
estimate for the 2008/09 financial year. Thus, TK Development continues to
expect profits to end at about DKK 300 million after tax for the 2008/09
financial year. 


Further information is available from Frede Clausen, President and CEO, on tel.
+45 8896 1010.